It would be cool to be 50 if the old testament year of Jubilee was still in pratice. Each 50 years all debt is is written off. Everybody gets a clean slate, sort of like a bail-out. My personal debt now consists of a horrific student loan, some charge card debt and my car loan. My student loan was tripled on me by First Union Bank of Virginia when I was too sick with cancer to understand the slimy bait and switch "consolidation" they pulled on me. When I did finally figure it out I was in chemo with a poor prognosis so it really wasn't a top priority. Then against all predictions I recovered and felt so strongly that those who didn't make it through their treatment would be happy to trade places that I never persued righting the wrong- it's just a mistake that cost me some money.
Hey how about a economnic stimulous package that forgives a year of federal student loans for ever year you have paid. Actually REWARD responsible behavior. Next year I am planning to cut all expenses to the bone so I can double up on the car payments. My future mustang hermitage cannot be viable with my current debt load. The evil student loan will always be with me- the most I can pay still doesn't cover the interest, but I do get the tax deduction. I consider it a fixed cost of teaching ( a job I love) instead of working the multiple part time jobs I had to juggle as a single mom from 1985 until I graduated in 1994.
